Peruvian Tax Court concludes loan proceeds qualify as a payment of services
The Tax Court determined that proceeds from an interest-free loan are a payment for services because there was no intention to repay the loan and the parties agreed that the funds could be used to pay for services rendered in 2013 and services to be rendered in 2014.
In Resolution 03052-5-2020, the Peruvian Tax Court concluded that funds from an interest-free loan are a payment for services.
Source EY
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